The project is on empowering women through micro credits. Women in our targeted area, do not have access to credit because they cannot provide the collateral security demanded by most financial houses. Our project solicit for a revolving fund to enable us grant loans to targeted women who are our members. This would enable them generate income and thus be able to solve their social needs rather than depend on the man or sell sex for money. This would also fight against HIV/AIDS.
What is the issue, problem, or challenge?
The project is dealing with rural women who have little access to credit. All formal institutions demands collateral securities to back credit given to borrowers. This project involve women who only do not have access to collateral security but are bared from acquiring one following the traditional believe. The target group are women doing small businesses\agriculture and finding it difficult to expand because of no or little access to formal credit.
How will this project solve this problem?
The project is soliciting for a revolving fund to be deposited in the credit union owned and managed by women. It would be used in granting loans to this targeted group to help expand on their business/agricultural activities. Repayment would be closely monitored and credit recycled to target about 1,020 of the women who fall within this social group.
Potential Long Term Impact
The long term effect would be the emancipation of the women economically. Here the women depends solely on the men for their livelihood thus subjecting them to all form of social degradations. With economic empowerment, the women would be able to provide some of their needs thus making them not to be too dependent to the man who subject them to all sort of social ridicule. This project targets 1,020 rural women.
Total Funding Received to Date: $0
Remaining Goal to be Funded: $100,000
Total Funding Goal: $100,000